As eBay looks to increase its share in the e-commerce pie, the company recently announced that all brand new merchandise listed on its eBay deals page will qualify it for a price match guarantee.
As Amazon and Walmart compete for the e-commerce crown, another long time player, eBay, has now stepped up its game as well. Last week eBay launched a Price Match Guarantee on more than 50,000 deals across its site in the US, promising that an eligible deal will be the best price online, or it will match the lower price of a competitor.
“Shoppers can shop with confidence knowing that they’re getting the best value available on eBay,” said Hal Lawton, senior vice president of North America eBay.
“Our eBay Deals selection has grown exponentially since being launched in 2011. The vast majority of our deals are already lower priced or equal to our competitors, but if a shopper finds it for less, we’ll gladly match the price of our competitors.”
The new initiative is a significant effort to ensure that eBay does not lose customers to Walmart, Amazon and other e-commerce companies, as the market consolidates behind the industry’s major players.
If a shopper finds a competitor offering the same product for less, once verified, eBay will offer a coupon for the difference in price that can be used towards the purchase of the item. Items eligible for the Price Match Guarantee are:
- New: One of the over 50,000 new items available daily in eBay Deals
- Identical and Available: Both items must be exactly the same and currently in stock
- Competitors: Amazon.com, BestBuy.com, Jet.com, HomeDepot.com, Sears.com, Target.com, Walmart.com or Wayfair.com.
While price is an important factor for bargain hunter shoppers online, it’s important to note that faster delivery, authentic products and reliability are also exceedingly important. While a price match can help eBay ensure that its current customers do not leave its platform, it’s unlikely that it will be a major factor in drawing more customers to eBay.
In order for eBay to increase its consumer base, it will need to continue to focus on those other factors that online consumers of today value.